Inverness Caledonian Thistle FC (ICT) is set to exit administration following agreements reached with its creditors. The club faced financial difficulties last year and underwent administrative proceedings overseen by BDO, which began in October. This exit by early July not only secures ICT's position in Scottish League 1 but also facilitates former chairman Alan Savage's bid to buy the club. Despite incurring a 15-point deduction for financial issues, ICT managed to climb the league table to seventh, seven points clear of relegation.
The joint administrators would like to thank everyone involved in the process of getting to this point and in particular Alan and his team and the staff at the club.
The aim of the administrative process was to rescue the club, but this did mean ICT incurring a 15-point deduction as punishment from the Scottish Professional Football League.
Mr Savage has been funding the club since last year, and his offer to buy it came with conditions, including ICT’s exit from administration.
We look forward to the conclusion of the process and seeing the club move forward, particularly with the support from the fans.
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